The self-destruction of ObamaCare continues to unfold as health insurance carriers accelerate their departures from the marketplace.
Blue Cross and Blue Shield of Kansas City is pulling out of 32 counties in Kansas and Missouri next year because the insurer says it has lost more than $100 million on Obamacare.
The company is the latest to pull out of the individual insurance market for 2018, following major defections in Iowa and several other states.
The decision announced Tuesday would affect about 67,000 customers and plans sold on and off Obamacare’s exchanges. It will not affect 2017 plans.
The insurer said the decision was made due to staggering financial losses and not due to uncertainty surrounding Obamacare or the law’s insurer subsidies (WaEx)
Elected officials representing both Kansas and Missouri are speaking out.
Kansas Congressman Kevin Yoder issued a statement saying, “With today’s news, there will be no insurance option at all for tens of thousands of families unless a new provider enters the market. This news is a devastating blow for Kansans who won’t get to keep their plans or their doctors next year.”
Missouri Senator Roy Blunt said, “Obamacare is collapsing and Missouri families are paying the price. We now have tens of thousands of Missourians in the Kansas City area that have lost their plans and have no insurer option on the Obamacare exchanges next year. It is another devastating blow to families that are already struggling with higher costs and less access to quality health care under the law.”
WDAF-TV provided a local report: